Rewards can be earned using the Synchrony Bank-issued card in-store and online, as well as anywhere Mastercard is accepted. As an added bonus, members can take advantage of exclusive savings events, receive gifts on their birthdays, and advance to the Elite level for even more benefits. The card has no yearly charge.

The Stein Mart Platinum Mastercard®, however, is not universally applicable like the store's clothing and furnishings. Depending on your spending, you may discover that a different rewards credit card provides more value and simplifies redemption.

The rewards and retail protections on this card might appeal to you if you're a committed Stein Mart customer who spends more than $500 annually. Could you find out more about it?

A low initial payout

The Stein Mart Platinum Mastercard®, which may be used online and in stores, and the Elite edition of the Stein Mart Platinum Mastercard® are the two main varieties of this card. Earned with the Stein Mart Platinum Mastercard® The dollar you spend at Stein Mart earns you one point, in-store and online. For every dollar spent outside of Target, you will get one point.

Every point is equivalent to a penny. Once you've earned 1,000 points, you can redeem them for a $10 gift card. That can take some time, depending on your budget. To get more bang for your buck, consider a flat-rate cash-back credit card that allows you to cash in your rewards whenever you want, no questions asked.

When you sign up for the Stein Mart Platinum Mastercard®, you'll be eligible for a welcome bonus. A $10 Stein Mart gift voucher will be mailed to you with your new credit card, and you'll earn 10% off your first online purchase just for using it.

NerdWallet has compiled a list of the best credit cards for use at department stores. But you may earn your way up to Elite status and its benefits. When you use your Stein Mart Platinum Mastercard® to spend $500 or more in a calendar year at Stein Mart (either online or in stores), you are automatically enrolled in the Stein Mart Elite Rewards Program.

Superior care for our customers is our top priority

When you reach the Elite level, it immediately sticks with you for an entire year. You must maintain the annual spending requirement to keep your status.

Although the Elite card's % of return on purchases made at Stein Mart is respectable, there are better options out there. Think about a card like the Citi® Double Cash Card. With no minimum purchase requirement and 2% cash back on all purchases (1% back at the time of purchase and 1% back when the balance is paid in total), this card is a no-brainer.

To be redeemed is a slow and rigid process.

Limitations and red tape will make the redemption process challenging to navigate. First, you must wait for your reward certificates to come in the mail after one or two billing cycles have passed before you can cash them in.

Don't make the mistake of carrying a load on this card; interest rates on store credit cards, including the Stein Mart Platinum Mastercard®, are notoriously high. Constant annual percentage rate (APR) of 28.99% Variable is significantly higher than the market average for interest-bearing credit card accounts by a wide margin.

You won't receive breathing room when financing your purchases because the Stein Mart Platinum Mastercard® doesn't offer an introductory interest-free period. You won't have to worry about interest if you pay your monthly bill in full. However, if you tend to run a balance on your card, the high APR might become a burdensome expense that reduces the value of rewards.

Access to beneficial resources is a crucial benefit.

The Stein Mart Platinum Mastercard® comes with a suite of Mastercard perks that can come in handy in an emergency and can be used on any purchase. Features of the card include: If you've been a victim of identity theft, you can get help resolving the issue and regaining control of your finances through these services. If you lose your Mastercard, you can contact Mastercard Global Service, which is available around the clock.

The Mastercard Airport Concierge program offers a discount of 15 percent on meet-and-greet services at airports. More than 700 airports across the world have agents accessible to assist you.